Financial Performance - Revenue for Q1 2024 was CNY 340,376,851.77, an increase of 7.92% compared to CNY 315,388,505.23 in the same period last year[5]. - Net profit attributable to shareholders decreased by 29.45% to CNY 12,962,757.41 from CNY 18,374,230.50 year-on-year[5]. - The company reported a significant drop in net profit excluding non-recurring items, which fell by 83.73% to CNY 2,476,282.89 from CNY 15,220,266.41 year-on-year[5]. - The net profit for Q1 2024 was 12.96 million RMB, a year-on-year decrease of 29.45%[16]. - The net profit after deducting non-recurring gains and losses was 2.48 million RMB, down 83.73% year-on-year[16]. - Operating profit decreased to ¥12,024,493.71, down 37.0% from ¥19,084,438.39 in the previous period[29]. - The total comprehensive income for the current period was ¥12,953,666.76, down from ¥18,828,138.50 in the previous period[31]. Cash Flow - Cash flow from operating activities showed a significant decline, with a net outflow of CNY 5,391,349.42 compared to a net inflow of CNY 21,464,126.68 in Q1 2023, representing a decrease of 125.12%[5][11]. - The net cash flow from operating activities was -5.39 million RMB, a year-on-year decline of 125.12%[16]. - Cash flow from investing activities resulted in a net outflow of ¥19,470,276.14, an improvement from a net outflow of ¥294,256,660.40 in the previous period[34]. - Cash flow from financing activities recorded a net outflow of ¥65,730,132.33, compared to a net inflow of ¥107,111,888.81 in the previous period[34]. Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 2,607,819,578.76, down 4.34% from CNY 2,726,158,347.59 at the end of the previous year[5]. - As of March 31, 2024, the company's total assets amounted to RMB 2.608 billion, a decrease from RMB 2.726 billion at the beginning of the period[26]. - The company's total liabilities as of March 31, 2024, were RMB 937.08 million, down from RMB 1.069 billion at the beginning of the period[27]. - The company's cash and cash equivalents decreased to RMB 383.65 million from RMB 491.92 million at the beginning of the period[26]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,791[12]. - The company repurchased 56,700 shares at a maximum price of RMB 17.64 per share, totaling RMB 998,480.00 on April 8, 2024[25]. - The company plans to use repurchased shares for employee stock ownership plans or equity incentives, with a total repurchase budget between RMB 30 million and RMB 50 million[25]. - The company approved the cancellation of 889,600 shares of restricted stock that had been granted but not yet vested as of March 29, 2024[23]. Production and Costs - Production capacity increased by 10.71% year-on-year, with output rising by 31.36% due to increased order volume[16]. - The average product price decreased by 11.98% year-on-year, impacting gross profit margin which fell by 6.45 percentage points[16]. - Total operating costs increased to ¥337,390,435.92, up 13.6% from ¥296,981,761.98 in the previous period[29]. Government Support and Incentives - The company received government subsidies amounting to CNY 11,356,838.22, primarily due to a listing reward of CNY 7 million[6]. - The 2023 restricted stock incentive plan has been approved to enhance employee motivation and retention[20]. - The company adjusted the list of incentive stock plan participants and granted 1.938 million shares of restricted stock to 50 eligible participants on April 14, 2023[21]. - The grant price for the restricted stock incentive plan was adjusted from RMB 15.47 per share to RMB 14.97 per share following the implementation of the 2022 profit distribution plan[22]. - On October 12, 2023, the company granted 200,000 shares of restricted stock to 16 eligible participants as part of the reserved portion of the incentive plan[23]. Future Plans - The company plans to implement cost reduction measures starting in Q2 2024, focusing on procurement costs and operational expenses[17]. - The PCB expansion project has been approved with an investment of 2.34 billion RMB, and construction is currently underway[18][19]. - The company has successfully acquired land use rights for approximately 63 acres for the PCB expansion project[18].
金禄电子(301282) - 2024 Q1 - 季度财报